Singapore's Temasek Invests in India's Snack Leader

In a landmark deal, Singapore's sovereign wealth fund, Temasek, has acquired a 9-10% stake in Haldiram Snacks Foods, the parent company of India's beloved snack brand Haldiram's, for an impressive Rs 8,500 crore. This investment values the company at approximately $10 billion, marking one of the most significant transactions in India's fast-moving consumer goods sector recently.

The deal, finalized on March 11 after extensive negotiations, positions Temasek as the highest bidder for the minority stake. This strategic move underscores Temasek's commitment to bolstering its footprint in India's burgeoning consumer market. Sources indicate that discussions with other private equity giants, including Blackstone and Alpha Wave Global, are ongoing for an additional 5% stake that the promoter family is considering to divest.

Expanding Horizons

With a reported $37 billion exposure to India as of March 2024 and plans to invest an additional $10 billion over the next three years, Temasek is diversifying its portfolio. Beyond Haldiram's, Temasek has significant investments in Manipal Health and Rebel Foods, showcasing its broad interest in India's dynamic consumer sector.